OM Asset Management PLC (OMAM) Stake Reduced by NorthCoast Asset Management LLC

NorthCoast Asset Management LLC reduced its stake in OM Asset Management PLC (NYSE:OMAM) by 1.6% during the first quarter, Holdings Channel reports. The fund owned 120,784 shares of the asset manager’s stock after selling 1,927 shares during the period. NorthCoast Asset Management LLC’s holdings in OM Asset Management PLC were worth $1,826,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mangrove Partners increased its position in OM Asset Management PLC by 127.9% in the third quarter. Mangrove Partners now owns 506,671 shares of the asset manager’s stock valued at $7,048,000 after buying an additional 284,394 shares during the last quarter. Comerica Bank acquired a new position in OM Asset Management PLC during the fourth quarter valued at $2,850,000. State Street Corp increased its position in OM Asset Management PLC by 5.0% in the fourth quarter. State Street Corp now owns 831,892 shares of the asset manager’s stock valued at $12,063,000 after buying an additional 39,534 shares during the last quarter. Prudential PLC acquired a new position in OM Asset Management PLC during the fourth quarter valued at $2,035,000. Finally, Dimensional Fund Advisors LP increased its position in OM Asset Management PLC by 35.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 366,499 shares of the asset manager’s stock valued at $5,314,000 after buying an additional 96,258 shares during the last quarter. Institutional investors and hedge funds own 36.45% of the company’s stock.

Institutional Ownership by Quarter for OM Asset Management PLC (NYSE:OMAM)

Shares of OM Asset Management PLC (OMAM) traded up 0.48% during mid-day trading on Friday, hitting $14.58. 1,167,590 shares of the stock traded hands. The firm has a 50 day moving average of $14.77 and a 200 day moving average of $14.74. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 14.88 and a beta of 1.76. OM Asset Management PLC has a 12 month low of $12.10 and a 12 month high of $16.01.

OM Asset Management PLC (NYSE:OMAM) last posted its earnings results on Thursday, May 4th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. OM Asset Management PLC had a net margin of 19.05% and a return on equity of 75.43%. The firm had revenue of $198.80 million during the quarter, compared to analysts’ expectations of $196.70 million. During the same period in the previous year, the business posted $0.27 EPS. The business’s revenue was up 30.0% compared to the same quarter last year. On average, equities analysts expect that OM Asset Management PLC will post $1.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a $0.09 dividend. This is a boost from OM Asset Management PLC’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, June 14th. OM Asset Management PLC’s payout ratio is currently 30.48%.

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Several research analysts have weighed in on OMAM shares. Zacks Investment Research downgraded shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Credit Suisse Group AG set a $17.00 price target on shares of OM Asset Management PLC and gave the stock a “buy” rating in a research report on Monday, March 27th. Evercore ISI reiterated an “outperform” rating on shares of OM Asset Management PLC in a research report on Monday, April 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of OM Asset Management PLC in a research report on Thursday, April 6th. Finally, ValuEngine downgraded shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.42.

In related news, major shareholder Group (Uk) Ltd Om sold 22,300,000 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $14.55, for a total value of $324,465,000.00. Following the completion of the transaction, the insider now directly owns 29,596,183 shares in the company, valued at approximately $430,624,462.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephen Belgrad sold 27,292 shares of the business’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $15.00, for a total transaction of $409,380.00. Following the completion of the transaction, the chief financial officer now owns 223,417 shares of the company’s stock, valued at $3,351,255. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,499,767 shares of company stock valued at $327,459,780. Company insiders own 1.41% of the company’s stock.

OM Asset Management PLC Company Profile

OM Asset Management plc is a global, diversified, multi-boutique asset management company. As of December 31, 2016, the Company operated its business through its eight Affiliates, each of which operated autonomously and employed its own investment processes. Its Affiliates include Acadian Asset Management LLC; Barrow, Hanley, Mewhinney & Strauss, LLC; Campbell Global, LLC; Copper Rock Capital Partners LLC; Heitman LLC; Investment Counselors of Maryland, LLC; Landmark Partners, LLC, and Thompson, Siegel & Walmsley LLC.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OMAM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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